Buzz Up PrintMINNEAPOLIS (AP)—The Minnesota Timberwolves have traded No. 3 pick O.J. Mayo to the Memphis Grizzlies for Kevin Love in an eight-player, late-night blockbuster long after the NBA draft concluded.

A person with knowledge of the deal confirmed it to The Associated Press, speaking on the condition on anonymity because the trade had yet to be officially announced.

The Timberwolves also received shooter Mike Miller and frontcourt retreads Brian Cardinal and Jason Collins from Memphis in exchange for the draft rights to Mayo, forward Antoine Walker and guards Marko Jaric and Greg Buckner.

The deal allows the Timberwolves to dump Walker, who was unhappy riding the bench on a young team, and Jaric’s contract, which has three years and more than $21 million remaining.

Miller also fills a huge hole on the team as a perimeter shooter and gives them Love, a player who can play down low next to Al Jefferson on a formidable young front line.

The Grizzlies, in turn, get a dynamic guard in Mayo who was widely rated the third-best player in the draft behind Memphis guard Derrick Rose and Kansas State forward Michael Beasley, who went first and second, respectively.

Timberwolves fans will likely be reminded of another lottery-swapping move two years ago, when Minnesota selected Brandon Roy, then traded him to Portland for Randy Foye and cash.

Roy went on to become rookie of the year in 2006-07 and an All-Star last season, while Foye has struggled with injuries while showing promise as a floor leader and playmaking perimeter threat.

With Foye and Rashad McCants—two smallish scoring guards—already on the roster, the Wolves started their evening by drafting the 6-foot-5 Mayo out of USC with the third pick.

Memphis took Love, a fundamentally sound 6-foot-10 power forward from UCLA, with the fifth overall pick.